Скачать или смотреть Jumbo Loans Explained and How to Get One in 2024 👍

Jumbo loans are a category of mortgage that exceed the lending restrictions set by the Federal Housing Finance Agency (FHFA). These loans are commonly used to acquire upscale houses and homes of significant worth. Jumbo loans have more rigorous criteria than ordinary mortgages, which include higher credit ratings, significant down payments, and comprehensive financial documentation.


Conforming loan limitations refer to the highest amounts established by Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs) that provide the majority of financial backing for house mortgages in the United States. In 2024, the maximum amount for a single-unit home is $766,550, which is more than the $726,200 limit in 2023. In specific regions with high living expenses, such as Southern California, South Florida, and the New York metropolitan area, the maximum restrictions for various financial aspects may be higher than the standard baseline if the local median house value exceeds 115% of it.

Due to exceeding these limits, jumbo loans are categorized as non-conforming loans and are not eligible for purchase by the Government-Sponsored Enterprises (GSEs).

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